Sunday Marks 70th Anniversary of One of America’s Most Important Civil Rights Programs

Media 08.12,05

Washington, DC – This Sunday, August 14th, marks the 70th anniversary of the day one of the nation’s most important civil rights program, Social Security, was signed into law. Recognized as the most successful and effective government program in our history, Social Security protects the welfare and retirement security of 47 million retirees, Americans with disabilities, widows and children of whom a disproportionate share are minorities.

“On the 70th anniversary of Social Security we celebrate its successes and rededicate ourselves to protecting its future,” said Wade Henderson, executive director of Leadership Conference on Civil Rights (LCCR), the nation’s oldest, largest, and most diverse civil and human rights coalition. “Privatization is not an option,” he added. “We will not stand by and let the Administration tinker with the retirement security that so many Americans have spent their whole lives working for or allow cuts to programs that so many Americans count on to make ends meet.”

Despite nationwide opposition, President Bush continues to push for privatizing Social Security. House Republicans plan to move on a bill that would recklessly divert funds from the Social Security trust into unstable private accounts this Fall. The Republican plan would place undue burden on minorities, women and people with disabilities – the very people the program helps the most.

Privatization will effectively discriminate against women, Americans with disabilities and minorities by denying them a secure retirement. Social Security’s progressive benefit structure provides the greatest support to low-wage and part-time workers, who are more likely to be minorities, Americans with disabilities and women. A privatization scheme threatens the solvency of Social Security for future generations and would lead to crippling benefit cuts pushing many low-income retirees into poverty and debt.

“Social Security is so much more than a retirement program,” said Henderson. “It is one of our most important and most basic civil rights programs. The social insurance that Social Security provides all Americans is akin to the proverbial rising tide that lifts all boats.”

Social Security: One of Our Most Important Civil Rights Programs

  • Social Security is one of our most important civil rights programs. It protects the welfare and retirement security of 47 million retirees, Americans with disabilities, widows and children of whom a disproportionate share are minorities. African Americans, Latinos, women and people with disabilities tend to earn less and have smaller pensions than other Americans, making them far more dependent on Social Security and far more vulnerable to a risky privatization scheme.
  • For many minorities Social Security is their only source of retirement income, making privatization a reckless gamble. For 40% of older African Americans and older Latinos, Social Security is their sole source of income; without it, the poverty rate of retired African Americans and Latinos would triple.
  • More than 7 million Americans depend on Social Security’s disability benefits, including 1.6 million children who have a parent with a disability. Privatization would lead to devastating benefit cuts that would hurt workers with disabilities and their families. Social Security provides the only disability insurance that adjusts for inflation, is designed to protect children who have a parent with a disability, and is available to workers who have an existing disability or another health condition.
  • One out of two women over the age of 65 – including more than two-thirds of unmarried women – would slip into poverty without Social Security. Social Security accounts for at least 90% of the income for two-thirds of retirement age Hispanic women and three-quarters of African American women without it, six out of ten African American and Hispanic women would live in poverty. Women live longer than men and depend on Social Security’s guarantee of a lifetime benefit – tinkering with Social Security would put these women at risk.
  • 5.4 million children depend on Social Security benefits. For the average working American family with two children, Social Security provides the equivalent of a $350,000 disability insurance policy and a $400,000 life insurance policy to protect their kids. These built in safeguards are especially critical for minority children. For example, while African American kids make up only 12 percent of the population, 22% of children who count on Social Security survivor benefits are African American. Privatization would put all of our kids in danger.
  • Social Security protects the working poor. Social Security’s progressive benefit structure provides the greatest assistance to low-wage and part-time workers, who are more likely to be minorities, women and Americans with disabilities. A privatization scheme would lead to crippling benefit cuts and would push many low-income retirees into poverty and debt.